Azerbaijan, Baku, May 10 / Trend A.Badalova/
Azerbaijan's oil production will increase by 60,000 barrels per day (bpd) to 1.05 million bpd in 2012, a monthly report of the U.S. Energy Information Administration (EIA) says.
According to the EIA's forecasts, the highest level of Azerbaijan's oil production this year will be observed in the third quarter - at 1.14 million bpd. In the first quarter, according to to the EIA's estimates, the country produced 0.96 million bpd, in the second quarter it will produce 0.99 million bpd, in the fourth quarter - 1.12 mln bpd.
EIA predicts Azerbaijan's oil production to decrease by 80,000 bpd to 0.97 million bpd in 2013.
In the first quarter of 2013 the country's oil production will amount to 1 million bpd, in the second quarter - 0.98 million bpd, in the third - 0.96 million bpd, in the fourth quarter - 0.94 million bpd, EIA predicts.
According to the BP, Azerbaijan's proven oil reserves amounted to 7 billion barrels in early 2011. Oil production in the country amounted to 1.037 million bpd in 2010, or 0.5 percent more than the figure in 2009.
The main volume of Azerbaijan's oil production accounts for the Azeri-Chirag-Guneshli fields. Azeri Light oil with a sulfur content of 0.15 percent (35 degrees API) is produced here.
ACG participating interests are: BP (operator - 35.83 percent), Chevron (11.27 percent), SOCAR (10 percent), INPEX (10.96 percent), Statoil (8.56 percent), Exxon (8 percent), TPAO (6.75 percent), ITOCHU (4.3 percent), Hess (2.7 percent), AzACG (11.6 percent).